FTM corrects upwards and sets a higher low at $2.32

TL;DR Breakdown

  • Fantom price analysis is positive today.
  • FTM/USD saw a strong advance this morning.
  • Fantom set a higher low at $2.32 yesterday.

Today’s Fantom price analysis is bullish as a higher low has been established, and the morning’s strong advance has set up a new high. As a result, we anticipate FTM/USD to surpass the previous high of $2.45 within the next 24 hours.

Fantom Price Analysis: FTM corrects upwards and sets a higher low at $2.32 1Cryptocurrency heat map. Source: Coin360

The overall cryptocurrency market is entirely green with all digital assets trading bullishly for the past 24-hours. Bitcoin crossed the $65,000 mark after a 1.54 percent rise where it set a new all-time high. Ethereum posted a record gain of 8.43 percent and broke above $4,178.

Fantom price movement in the last 24 hours: Fantom sets higher low at $2.15, returns to previous high

FTM/USD is trading inside a narrow range of $2.32 and $2.45 for the past 24 hours, suggesting considerable volatility over the preceding day and a half. The trading volume stands at $617 million, which is 32.91% less than yesterday’s amount, while the overall market cap trades around $6.14 billion, which is 1.79% lower than the day before.

Fantom’s price advance occurred in two stages: an initial surge attracted buyers to push FTM/USD up to $2.19, where it found resistance and rolled over into yesterday’s consolidation range. The second leg of the rally developed early this morning. The price of FTM/USD rose from $2.14 to a high of $2.45 on the volume of almost $232 million, which is 133.69% more than yesterday’s quantity.

FTM/USD 4-hour chart: FTM ready to break $2.45 previous high?

On the 4-hour chart, we may observe that the Fantom price is moving back toward the previous swing high, suggesting that a break higher will follow.Fantom Price Analysis: FTM corrects upwards and sets a higher low at $2.32 2FTM/USD 4-hour chart. Source: TradingView

The Fantom price action has been excellent thus far in October. On the 1st of October, FIL/USD was pushed back by the $1.50 resistance after an initial spike higher.

On October 8th, while another technical fix to $1.30 was in place, the bulls reclaimed control and a rapid rise ensued over the next few days. Fantom hit $2.45 on the eighth of October after a 90 percent surge and establishing a new all-time high.

The cryptocurrency’s price reached $1.80 on October 8, then dropped for the better part of a week before finding support at $1.90 on October 16th. Support was discovered at $1.90 on the 16th of October, after which FTM/USD proceeded to rise higher, establishing a higher high at $2.30

Fantom Price Analysis: Conclusion 

The Fantom price is up today after another advance was followed after a higher low was established yesterday at $2.15. As a result, it’s likely that FTM/USD will set new all-time highs on a regular basis.

While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and Defi wallets.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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